Archive for the ‘Retirement’ Category
Retirement planning: It's not just about the money
Posted: March 24, 2012 at 12:15 am
NEW YORK (CNNMoney) -- Most retirement planning emphasizes financial considerations. How can I plan for the way I'll live after I leave work? -- David, Miami, Fla.
Many of us get so caught up in the financial aspects of preparing for retirement that we forget the reason we do all that saving, investing and planning in the first place: to have a meaningful and satisfying post-career life.
So "lifestyle" retirement planning is every bit as important as crunching the numbers, even if it doesn't always get the same attention.
If anything, lifestyle and financial retirement planning complement each other. After all, you can't really know how big a nest egg you'll need without having an idea of how you want to live in retirement. And the kind of life you'll be able to lead will depend in large part on how successful you are at accumulating savings.
It's essential to factor lifestyle considerations into your financial planning, especially in the ten years or so leading up to retirement. Here are four ways to do that:
1. Envision your future. As you enter the home stretch to retirement, you'll need to address big questions like whether to continue living in your current area or move to a new city or town like one of the 25 profiled in MONEY's Best Places to Retire.
But you'll want to focus on small-picture issues too, even down to how you'll actually spend the hours of each day once your work routine no longer provides the structure for your day.
One way to sharpen your vision of the future is to rev up a tool like T. Rowe Price's Ready-2-Retire. Among other things, this tool allows you to pick different retirement activities (travel, pursuing creative interests, going back to school, etc.) and then prioritize them based on how important each is to you.
For a deeper dive, you may want to attend one of the growing number of pre-retirement seminars that can help you manage the transition from the work-a-day to retirement. For example, the North Carolina Center for Creative Retirement in Asheville, N.C., offers two three-day "Paths to Creative Retirement" workshops each year where participants explore options for retirement and figure out which are the best fit with their goals and values.
2. Do a test drive. Once you have a sense of what your ideal retirement might be, give it a trial run to see if the fantasy squares with reality.
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Retirement planning: It's not just about the money
Retirement planning: It's not just money
Posted: at 12:15 am
NEW YORK (CNNMoney) -- Most retirement planning emphasizes financial considerations. How can I plan for the way I'll live after I leave work? -- David, Miami, Fla.
Many of us get so caught up in the financial aspects of preparing for retirement that we forget the reason we do all that saving, investing and planning in the first place: to have a meaningful and satisfying post-career life.
So "lifestyle" retirement planning is every bit as important as crunching the numbers, even if it doesn't always get the same attention.
If anything, lifestyle and financial retirement planning complement each other. After all, you can't really know how big a nest egg you'll need without having an idea of how you want to live in retirement. And the kind of life you'll be able to lead will depend in large part on how successful you are at accumulating savings.
It's essential to factor lifestyle considerations into your financial planning, especially in the ten years or so leading up to retirement. Here are four ways to do that:
1. Envision your future. As you enter the home stretch to retirement, you'll need to address big questions like whether to continue living in your current area or move to a new city or town like one of the 25 profiled in MONEY's Best Places to Retire.
But you'll want to focus on small-picture issues too, even down to how you'll actually spend the hours of each day once your work routine no longer provides the structure for your day.
One way to sharpen your vision of the future is to rev up a tool like T. Rowe Price's Ready-2-Retire. Among other things, this tool allows you to pick different retirement activities (travel, pursuing creative interests, going back to school, etc.) and then prioritize them based on how important each is to you.
For a deeper dive, you may want to attend one of the growing number of pre-retirement seminars that can help you manage the transition from the work-a-day to retirement. For example, the North Carolina Center for Creative Retirement in Asheville, N.C., offers two three-day "Paths to Creative Retirement" workshops each year where participants explore options for retirement and figure out which are the best fit with their goals and values.
2. Do a test drive. Once you have a sense of what your ideal retirement might be, give it a trial run to see if the fantasy squares with reality.
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Retirement planning: It's not just money
Bruce Bowen Jersey Retirement 3/21/12 HD – Video
Posted: March 23, 2012 at 6:38 am
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Bruce Bowen Jersey Retirement 3/21/12 HD - Video
8 Affordable Retirement Hobbies
Posted: at 6:38 am
You've put in your retirement papers and are ready for the next phase of life. Now unless your financial situation allows for globe-trotting and a carefree lifestyle, you may need to readjust your spending habits to suit your income. However, there's no reason to cut down on leisure activities and hobbies. We offer a few suggestions that will keep you active and happy, but won't break the bank.
Photography Snapping your favorite images was costly when buying film and paying for processing were your only options. However, today's digital cameras (relatively inexpensive for a non-professional model) allow for unlimited picture-taking, sorting and printing on your home computer or laptop. Name-brand models with 10MP or higher can run for less than $100, a bargain for those starting out. Extra costs: photo paper runs about $15 for 50 sheets at most office supply stores. Bonus: You can post and send emails on your favorite website for free.
Genealogy Tracing your family roots can be a wonderful way to spend your spare time and preserve a little bit of history. Local libraries and the Internet are valuable resources for getting started. Also, there are several government websites where you can access free archived information, such as names and photographs, to trace your family tree. You might also look into forums and other online sources for information searching and sharing. Cost: free.
Reading and Writing Want to be the next great novelist? Love poetry? Need to catch up on the latest best-seller? Retirement affords you the time to do all of it, and you needn't dish out big bucks. Many public libraries participate in exchange co-op programs, so you can access any book, book-on-tape, CDs and DVDs for free. If you're interested in writing on a casual or personal basis, or if you want to try your hand at making a few extra bucks, try blogging or submitting your work to free sites that accept entries.
Meditation and Yoga These hobbies are relatively easy and inexpensive, as well as beneficial to your health. You may want to take a few yoga lessons to ensure proper positioning and breathing techniques. Senior centers and local adult school programs may offer lessons at reduced rates, and how-to guides are available in libraries and book stores. Once you achieve a basic understanding of the principles, you can perform the techniques on your own to suit your personal schedule. The best part: your body (and mind) will love you for it. Cost: yoga mat $20.
Arts and Crafts The word "retirement" might immediately bring to mind images of rocking chairs and knitting needles. However, today's retirees have access to a lot more options for their leisure time. While knitting and crocheting are wonderful hobbies and yield beautiful homemade items, yarn, needles and other supplies are not cheap. However, origami and paper crafts, scrapbooking, drawing, woodcarving and floral arranging are inexpensive ways to create wonderful gifts for friends or loved ones. Take a class or borrow how-to books from the library to get started. Cost: nominal supplies.
Sports and Physical Activities Golf and tennis are sports that can be enjoyed by people of all ages. However, memberships to exclusive country clubs can set you back a pretty penny. Instead, sign up to play on public golf courses, which charge considerably less for a round. If possible, walk rather than rent a cart (you'll get extra exercise in, too) and have your clubs cleaned and re-gripped instead of springing for a brand new set. Also, adapt your schedule to play in the off-hours, such as late afternoons or weekdays, when rates are reduced. (Some courses also offer nine-hole rates for off-peak times). The same applies to Tennis. Not only are outdoor public courts free, but you'll also get some fresh air. If sports are not your thing, dancing, bicycling, hiking and walking are perfect for staying in shape, meeting new people and having fun. Costs: varied.
Games and Puzzles Experts agree that playing games like chess, scrabble and cards are beneficial to your mental health and memory, warding off conditions such as depression and Alzheimer's. Crossword puzzles and Sudokus also help to keep your mind sharp as you age. Cost: Minimal.
Volunteering Offering your time and talent is a wonderful way to spend your retirement and give back to the community. Whether with a national organization or a local food bank, volunteers are always needed and always welcome. You also may want to consider tutoring or lecturing in your area of expertise, or doing odd jobs for folks who don't have the financial means to pay contractors. Cost: Nothing. Bonus: You'll be helping where help is needed the most.
The Bottom Line Retirement doesn't mean you have to stay still, and you don't have to break the bank to have fun and keep busy. Be sure to stay mentally and physically active in order to remain healthy and energetic after your working years are over.
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8 Affordable Retirement Hobbies
The Standard Enhances Online Retirement Plan Tools
Posted: at 6:38 am
PORTLAND, Ore.--(BUSINESS WIRE)--
Standard Retirement Services, Inc. ("The Standard") is launching two enhanced retirement plan websites to provide advisors, employers and participants with a more informative and intuitive online experience. The two websites are: PlanNet, a retirement plan management resource for advisors and employers, and Personal Savings Center, a financial savings and management tool for participants.
These online tools have been upgraded based on direct user feedback. PlanNet enhancements include improved navigation for quicker access to popular plan management tools, along with more prominent displays of key plan information, such as plan investment balances and participant activity. Similar enhancements have been made to Personal Savings Center, providing easier access to investment management tools and more prominent displays of key account information, such as current balance, investment return, contribution history and loan activity.
In addition, both websites have increased their use of graphics to help deliver key data and educational information in a more compelling and easier-to-understand format.
These upgrades are a direct result of our strong collaboration with plan advisors and their clients, said Harley Spring, vice president of Plan Services. As a result of their feedback, our customers online experiences are now more intuitive and streamlined, making it easier to quickly access the most important information.
The Standard also recently enhanced its participant statements and enrollment communication materials. Our high commitment to service has led to our ongoing and significant investments in the tools and resources necessary to help employees reach retirement readiness, Spring added. We continually listen to advisors and employers to make sure we are delivering on our promises and adding long-term value to our partnerships.
Disclosure
StanCorp Equities, Inc., member FINRA, distributes group annuity contracts issued by Standard Insurance Company and may provide other brokerage services. Third-party administrative services are provided by Standard Retirement Services, Inc. Investment advisory services are provided by StanCorp Investment Advisers, Inc., a registered investment advisor.
About The Standard
The Standard is a leading provider of financial products and services, including group and individual disability insurance, group life, AD&D, dental and vision insurance, retirement plans products and services, individual annuities and investment advice. For more information about The Standard, visit http://www.standard.com.
Retiring Sens. Snowe, Bingaman: Political Center Is Disappearing – Video
Posted: March 22, 2012 at 7:36 pm
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Retiring Sens. Snowe, Bingaman: Political Center Is Disappearing - Video
Fernando Gonzalez Retirement Tribute Video – Video
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Fernando Gonzalez Retirement Tribute Video - Video
Jinnah admirers should retire from BJP: Anshuman Mishra – Video
Posted: at 3:11 am
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Jinnah admirers should retire from BJP: Anshuman Mishra - Video
Retirement commissioner seeks budget increase
Posted: at 3:11 am
TOM PULLAR-STRECKER
Retirement Commissioner Diana Crossan has labelled her $5.8 million budget "pathetic", telling MPs the commission needed three times as much money.
Crossan later upped that to "20 times", while acknowledging that was probably how many people felt about budgeting for retirement.
She is not alone in pleading poverty.
Chief ombudsman Beverley Wakem said last month that the Office of the Ombudsmen was in crisis and appealed for an extra $1m to be added to its $8.6m budget.
Privacy Commissioner Marie Shroff last month told Justice Minister Judith Collins that its $3.4m budget had not increased since 2006 and rapid growth in ICT and online activity was "placing pressure on its regulatory, policy and communications capabilities".
Appearing in front of a select committee yesterday, Crossan said that if the Commission for Financial Literacy and Retirement Income had more money, the first place she would put it would be in schools.
"The Australians announced last year that $10m would go into teaching financial education in schools over the next three years. We get nothing in particular for this."
The Bankers Association and the Young Enterprise Trust had helped develop teaching resources and the commission had partnered with banks to provide education to schoolchildren, but Crossan said she believed financial literacy would best be taught by "ordinary classroom teachers".
ASB Bank's retail general manager, Ian Park, said it had helped 175,000 schoolchildren learn basic money management skills since it launched its free "GetWise" programme two years ago and last year doubled the number of "classroom facilitators" to six.
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Retirement commissioner seeks budget increase
Golden State Warriors fans boo owner Joe Lacob during Chris Mullin jersey retirement (full) – Video
Posted: March 21, 2012 at 6:26 pm
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Golden State Warriors fans boo owner Joe Lacob during Chris Mullin jersey retirement (full) - Video